January’s Savings Challenge – Cut It Out

Happy New Year and good day!

I hope that all of you have found 2014 to be welcoming and inviting. As promised, here is the FIRST (of twelve) monthlong savings challenges. Keeping in theme with making resolutions and developing new habits, this savings strategy is appropriately called “Cut It Out”!

As you may have guessed from the name, you’ll have to give up something, anything, once a day or once a week and put the money for that convenience into your savings account.

The Rules:

  1. Find a daily (or weekly) indulgence that you can live without.
  2. Cut it from your daily spending.
  3. At the end of the week, deposit the amount you saved into your designated savings account.

Remember, this is to pad those savings accounts in little ways because I know you’re already automatically depositing a percentage of your pay into your savings (if you aren’t, we’ll just pretend that you were because you’re going to start as soon as you’re finished reading this post). If there is ever a day where you slip up and buy whatever item you’ve agreed to give up, it’s okay. You can always do better tomorrow.

So what are you giving up for the first 31 days of the new year?

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4 thoughts on “January’s Savings Challenge – Cut It Out

    • That’s awesome! I’ve been keeping track of the money I’ve saved so far and it’s about $23. Which given that it’s only 8 days in and I don’t really shop much, I’d say that’s a heck of a lot of money. I just wonder if I’ll hit the $100 mark or not.

      Good luck with bringing your number down and I hope it leads you to add more to your savings.

  1. I’ve aways been good with money and saving it lol but this is great! This made me realize I spend way too much on vending machines and fast food! I save about 150 a week.

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